The latest Brand Footprint Study by Kantar World panel is now launched, recognizing the Top 10 FMCG Brands on the basis of 12 month performance based on Kantar LMRB Household Panel, the iconic study which monitors consumer purchase behavior of FMCG brands brought into the home.
The Global Brand Footprint Study analysed one billion households across 43 countries in five continents involving over 300 billion shopper decisions, among 15,300 brands across 200 FMCG categories covering 73% of the global population.
“Sri Lanka is in the study for the second time, covering over 5 million households island-wide, with 400 brands and 1.4 billion shopper decisions” stated Himalee Madurasinghe, Chief Executive, Kantar LMRB. “According to the global report, even in uncertain and challenging times,strong brands growth remains rooted as they continue to be chosen more times, by more buyers. They use intrinsic consumer understanding to continue to be relevant to the consumer. “This could be a good measurement to assess the success of a Brand among its consumers, and is an independent view based on consumer behavior. To the marketer this would reflect on the effectiveness of its activity done to sustain the Brand,” Himalee added.
Global report reveals, despite the market challenges the fundamentals for brand growth remain constant. The fact that brands are finding ways to grow in difficult circumstances display there is always headroom for growth. Brands whilst being true to it’s loyal base need to concentrate on reaching new customers – their ‘non-shoppers’ – in order to flourish. The prize for finding these new customers is considerable; just a 1% point increase in global penetration will win a brand 11 million additional purchasing households.
The study used its proprietary metric – Consumer Reach Points (CRPs) – to discover how many times a brand was chosen by consumers over the course of one year. CRP is measured by looking at how many households are buying a brand (penetration of a brand) and how often they are buying it (frequency of purchase) – this displays the amount of closeness that consumers have with the brand and provides a true representation of shopper choice.
Chamika Fernando, Head of Kantar LMRB Household Panel explained that every household buys a repertoire of brands, which means that at each and every occasion there is chance that the household might purchase any brand.
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